The latest jobs news, headlines and analysis from The NE Times.
Youth unemployment has climbed to 14.7%, its highest level in more than a decade, as the broader labour market loses momentum and payrolled employment falls. Economists warn that a generation risks being scarred by a downturn that has crept up almost unnoticed.
The Scottish fashion chain is closing its remaining stores by the end of June after a second collapse into administration in under a year, with around 500 jobs lost and other names following it off the high street.
One in seven young people are now looking for work, with the youth jobless rate climbing to 14.7 per cent and vacancies falling to their lowest level since 2021.
Payroll numbers are falling and youth unemployment has hit its highest level in over a decade, while pay growth barely keeps pace with inflation, painting a picture of a jobs market under pressure.
The closely watched Report on Jobs shows employers leaning on temporary staff while delaying permanent appointments amid an uncertain economic backdrop.
Higher employer National Insurance and wage rises have driven a wave of cuts across the high street, with Tesco accounting for the steepest reduction.